Community Empowerment Matters

                           (This photo is licensed under CC BY 2.0 from SME Loans UK https://smeloans.co.uk/) During the COVID-19 pandemic lockdown here in the United States, many have taken the shift to an online and socially distant economy as a chance to explore different opportunities and start their own businesses. Still, the pause in traditional business has come with its own set of challenges. Entrepreneurs today face difficulties in gaining access to traditional sources of capital and funding opportunities to help them make critical upgrades, expansions, and capital investments. This guide hopes to alleviate some of that difficulty by canvassing some of the funding opportunities that are available to business owners and entrepreneurs today. The following is a short list of COVID-era funding sources that are available for business owners and entrepreneurs in Detroit, Michigan. If you are not located in Detroit, your city or state may offer similar funding opportunities throu

  T oo Much                              Too Little                              Just Right Similar to Goldilock's journey evaluating porridges, chairs, and beds to discover the one that was  just right , so too is the journey for bylaws  just right  for your organization. Bylaws are generally strongly suggested to ensure a shared understanding of the daily functions of your organization.     Whether your organization reviews bylaws consistently or has them stowed away in the furthest recesses of your shared drive, bylaws are a legal document that dictates the organization’s internal rules and shepherd all members to behave per its guidelines. Because of the bylaws’ importance to the organization's success, it is vital to focus on its contents.    There is not a  perfect  bylaw template. You may find resources listing things to include but the content of those sections--and any additional headings based on the size and structure of the business--are at the organization’s discre

  [Image of the Love Building, a community enterprise that would mix for profit and nonprofit entities in one building to maximize engagement with the Detroit community. Image Credit: Designing Justice Designing Spaces (DJDS)]   Nonprofit entities often partner with other organizations in joint ventures that meet their missions, but those partnerships can create tax implications that a nonprofit should be wary of, especially if that joint venture generates income or involves a for profit organization. In this post I will describe the general tax issues surrounding income created by a nonprofit as well as delve deeper into the property tax issues nonprofits may face when including forprofits in their real estate spaces.   As a tax-exempt organization, a nonprofit entity is generally not taxed on income it generates. The organization can operate a trade or business as a substantial part of its activities if the operation is in furtherance of the organization’s exempt purpose and if the o

"sisyphus paradox."   by   percipio symphony   is licensed under   CC BY 2.0   In a recent podcast for Bloomberg Law, University of Texas at Austin School law professor Mechele Dickerson discussed how the Bankruptcy Code favors white debtors over Black or Latino ones in various ways. [i]   Interviewer : “Is there a racist element in the U.S. Bankruptcy Code?” Professor Dickerson : “Intentional? No. But if you look at the way the Code is structured for human beings that file for bankruptcy, there are clear biases and it so happens that these biases favor a certain profile which I have called in the past an ideal debtor…” [ii]   This is a reality that has not gotten much attention in legal and business communities. Although there have been dozens of studies that have found Black debtors file for bankruptcy disproportionately more than other racial groups (yet get less permanent relief) there has been no definitive answer presented as to why. [iii]   This is a problem th